A true beacon of female leadership, Dayssi Olarte de Kanavos is the co-founder, President, and COO of Flag Luxury Group, a boutique real estate development firm specializing in luxury hotels, experiential retail centers, and refined design with a deep commitment to community engagement. With an impressive portfolio that includes the Ritz-Carlton New York, and NoMad, she has proven her ability to bring ambitious visions to life. As a trailblazer in an industry where she’s often the only woman at the table, Dayssi is equally committed to creating spaces where women thrive. Through her Women’s Power Series, launched with her daughter Sophia Kanavos, she empowers women across industries to connect, collaborate, and inspire one another.
We spoke with Dayssi Olarte de Kanavos about the challenges women face in real estate, family dynamics, and the power of women supporting women.
What is your passion in work and life?
In my work, I’m very passionate about development, construction, design, and cultivating an excellent guest experience. Nothing makes me happier than designing a memorable, luxurious experience for visitors, and I’m fortunate enough to team up with talented experts in these fields – like Chef José Andrés, among other visionaries – to do so. For much of my life, I’ve also had a keen appreciation for art. Fortunately, I’m able to integrate this passion into my work by overseeing exhibits and art selection across our properties. For instance, at The Ritz-Carlton New York, Nomad, I worked with the woman-owned Culture Corps to curate a selection of diverse, local art that is displayed in common spaces and guest suites, weaving an authentic New York sensibility throughout this iconic location. Beyond this, I care deeply about helping and empowering others. As Co-Founder alongside my daughter, Sophia Kanavos, of The Women’s Power Series, and the Founder of The Friends of New Yorkers for Children, an organization that supports children in foster care.
What inspired you and your daughter to create the Women’s Power Series?
My daughter Sophia and I launched the Women's Power Series after noticing a stark underrepresentation of women at the real estate and hospitality conferences we frequently attended. It was disheartening to repeatedly see fewer women in the room, let alone on stage as featured speakers. We also acknowledge that the cost and time commitment of many of these events can be prohibitive for women, many of whom are primary caretakers and/or are unlikely to spend on themselves over their family. With these barriers in mind, we set out to bring women a better option with the Women’s Power Series. Each Series event welcomes women from all walks of life to network, build community, and share industry insights at an elevated gathering. Our goal is that, at the end of each event, every attendee walks away feeling empowered with actionable skills and takeaways to take them further in their personal and professional pursuits.
Have you faced any unique challenges as a woman in a leadership role that you’d like to share?
I’ve worked very hard to become a trusted, go-to source in real estate, and am proud of the progress I have made. When I started a family, I took on a more limited role due to time and caregiving constraints. This was my decision, because I did not want to have to be available 24/7 for work while also raising my children, but it did mean that I narrowed in on guest experience as opposed to development. Once my children were in school full-time, I began taking on incrementally more time-intensive projects until I eventually managed the $100 million renovation of the Ritz-Carlton South Beach – my first new build. But all too often society generalizes and assumes that I am the “interior designer” for my husband's real estate projects. They are always surprised when they come to realize I am in fact on the execution side of our thriving business.
What advice would you give to young women starting their careers? What guidance have you shared with your daughter as she follows in your footsteps?
I raised my daughter Sophia to be a confident, capable, and reliable young woman who is now a business leader in her own right. As I taught her, it’s important to trust in the unique point of view you bring to the table. When you have a proven track record and are confident in your approach, people will entrust you with the resources and responsibility you seek out to achieve your singular vision.
When it comes to advice: are there any ‘words you live by’ that you can share to inspire?
My approach to leadership takes a page from the many lessons I learned playing sports growing up. I manage multiple teams and to work together smoothly, I reinforce the cornerstones of collaboration and communication. Like a coach, I have learned that clear assignments and delegation lead to more successful outcomes. Leading a business is never easy, and it takes a village. For those seeking words of wisdom, I would suggest remembering: “Every player has a unique and valuable role. Some assist, some score – together, we put points on the board and celebrate wins as a team.”
Which woman do you admire the most and why?
My mother, Pina, is my original inspiration. She always encouraged me and my sisters to seek out opportunities with the same confidence that men do. In true form, she led a successful restaurant business and was among the first women in 1950s Latin America to get a college education.
Why do you think it’s still important to discuss female empowerment today?
Though there has certainly been progress in recent years, gender disparities in the professional world persist. Starting a business, career, or brand is hard enough, and doing so as a woman presents additional, unique challenges. The percentage of women in boardrooms and C-suites still pale in comparison to men. We are 50 years away from achieving parity with men. Beyond my own generation, Sophia’s experience as a young woman in business demonstrates that despite significant progress, there is still so much room for improvement. For this reason, we are proud of the continued work we do at the Women's Power Series.
What does purpose mean to you?
As a mother and a partner in life and business, purpose is the love that binds us as a family and drives us to create legacies that outlive us. It's the pursuit of excellence in every detail, ensuring that each project we touch becomes a beacon of beauty, comfort, and innovation.
